Cosette Pharmaceuticals Adds to Dermatology and Women’s Health Portfolio with Mayne Pharma Purchase

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Cosette Pharmaceuticals, of Bridgewater, NJ, announced on Feb. 20, 2025 that it has an agreement in place to buy all remaining shares of Australia-based Mayne Pharma Group (1). The current price per share is AUD$7.40, which equates to approximately US$4.69; when the transaction is completed, the total consideration will be an approximate US$430 million.

In a press release, Cosette said that the acquisition will strengthen its dermatology and women’s health businesses, furthering its pharmaceutical footprint in the United States while also asserting a presence in international markets (1). Chiefly, Cosette said it wants to expand access to women’s health therapies. The company said that upon the close of the deal, it will be able to market 12 patent-protected products centering on women’s health and dermatology—some well-known brand names Cosette mentioned in the press release include Annovera, Bijuva, Imvexxy, Intrarosa, Nextstellis, Rhofade, and Vyleesi—plus have numerous programs in clinical development.

“This acquisition marks a transformational step for Cosette, adding patented, high-growth products to solidify our leadership in women’s health in the US and expanding our reach globally,” Apurva Saraf, president and CEO of Cosette Pharmaceuticals, said in the press release (1). “By combining Cosette’s strong portfolio with Mayne Pharma’s proven commercial expertise, the combined company will be well positioned to further invest in innovation, portfolio expansion and better serve our patients. We look forward to a timely closing and welcoming Mayne Pharma to the Cosette family.”

Cosette reports a staff of more than 350 employees, while Mayne Pharma employs more than 480, suggesting that the workforce of the combined company will more than double (1). Two state-of-the-art, FDA-approved manufacturing sites will be operational as a result of the merger, in Salisbury, South Australia, and in Lincolnton, NC, in the US.

“Joining the Cosette team amplifies our shared mission to improve lives through innovative and accessible women’s health and dermatology medicines,” said Shawn Patrick O’Brien, Mayne Pharma CEO, in the Cosette press release. “This transaction represents a unique opportunity for our employees, customers, and patients. Together, we will extend the reach of important therapies, drive innovation, and improve patient access.”

In the field of dermatology, another financial transaction was announced in May 2024, when the United Kingdom-based retail and commercial bank Santander UK said it was providing a £30 million (approximately US$38 million) loan to UK-based Ennogen Healthcare International, which focuses on not only dermatology but also respiratory and pain relief therapies, especially among those with chronic conditions (2).

As for Mayne Pharma, it previously sold Metrics Contract Services, which had been its full-service specialty contract development and manufacturing organization, to Catalent in August 2022 for $475 million (3).

In this latest transaction, the boards of directors of both Cosette and Mayne Pharma have approved Cosette’s share purchase agreement, and Mayne Pharma has directed its shareholders to vote in favor of the merger, according to the press release (1). The acquisition is expected to close in the second quarter of 2025.

References

1. Cosette Pharmaceuticals. Cosette Pharmaceuticals Announces Acquisition of Mayne Pharma, Transforming Company into a Leader in Women’s Health and Dermatology. Press Release. Feb. 21, 2025.
2. Santander. Santander Provides Pharma Manufacturer Ennogen with £30 Million Credit Facility for Growth. Press Release. May 2, 2024.
3. Catalent. Catalent to Acquire Metrics Contract Services for $475 Million to Expand High-Potent Capabilities and Oral Development and Manufacturing Capacity. Press Release. Aug. 9, 2022.